TOD is Catching on Even in Car-Dependent Markets

Village Partners Inc. is based in Newport Beach.

NEWPORT BEACH, CA—Southern California markets where residents have typically relied more on driving than on public transportation—like San Diego and Orange County—are beginning to embrace getting out of their cars more, Village Partners Inc. principal Don Henry tells GlobeSt.com. His firm and Bascom Group LLC of Irvine, CA, recently formed a joint venture called Village Partners Ventures LLC, which will target transit-oriented and mixed-use multifamily development opportunities in Southern California with plans to invest $200 million over the next four years. The new venture will capitalize on the region-wide shift towards expanding public transportation in Southern California, filling the current market gap in transportation-oriented multifamily development. It has under contract and is processing entitlements on a 6-acre transit-oriented development site near the I-210 tech corridor in the San Gabriel Valley and is also negotiating to acquire a number of other sites including a smaller transit-oriented development site in north Orange County. We spoke exclusively with Henry about Village Partners Ventures and transit-oriented development in Southern California.

GlobeSt.com: What do you find most compelling about your new venture with the Bascom Group?